[en] Decarbonization of the power system sparked its' liberalization process, from wholesale energy to balancing services procurement. In Europe, energy markets are open, transparent, technology-neutral and coupled EU-wide. Balancing markets development process aims for the same features. When bidding in the balancing capacity market, a provider must consider the day-ahead energy market, as it serves as a reference market for all trades. It must also consider the balancing energy market which is uncertain in both the volumes and prices. In this paper, a bidding model for the balancing capacity and, consequently, the day-ahead energy market with a robust formulation of the balancing energy price uncertainty is proposed. The results demonstrate that proposed approach leads to improved scheduling as the providers can prepare for the incoming realtime uncertainty already in the day-ahead timeframe.
Research center :
Interdisciplinary Centre for Security, Reliability and Trust (SnT) > FINATRAX - Digital Financial Services and Cross-organizational Digital Transformations
Disciplines :
Management information systems Computer science Electrical & electronics engineering Energy
Author, co-author :
PAVIĆ, Ivan ; University of Luxembourg > Interdisciplinary Centre for Security, Reliability and Trust (SNT) > FINATRAX
Pandzic, Hrvoje; University of Zagreb, Faculty of Electrical Engineering and Computing, Zagreb, Croatia
Capuder, Tomislav; University of Zagreb, Faculty of Electrical Engineering and Computing, Zagreb, Croatia
External co-authors :
yes
Language :
English
Title :
Day-ahead Energy and Balancing Capacity Bidding Considering Balancing Energy Market Uncertainty
Original title :
[en] Day-ahead Energy and Balancing Capacity Bidding Considering Balancing Energy Market Uncertainty
Publication date :
September 2022
Event name :
2022 International Conference on Smart Energy Systems and Technologies (SEST)
Event place :
Eindhoven, Nld
Event date :
05-09-2022 => 07-09-2022
By request :
Yes
Audience :
International
Main work title :
SEST 2022 - 5th International Conference on Smart Energy Systems and Technologies
Publisher :
Institute of Electrical and Electronics Engineers Inc.
This work has been supported in part by the European Structural and Investment Funds under project KK.01.2.1.02.0063 SUPEER (System for optimization of energy consumption in households), as well as by the Croatian Science Foundation and European Union through the European Social Fund under project Flexibility of Converter-based Microgrids – FLEXIBASE (PZS-2019-02-7747).
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